Saudi Arabia

Irish Fintech Global Shares Expands Footprint to Saudi Arabia

Global Shares, an Irish equity compensation management solutions provider, announce that it has opened an office in Saudi Arabia’s capital, Riyadh. The company has 16 other offices across Europe, America and Asia. Global Shares said that the Middle East is

Read More

Saudi Fintech Startup Hakbah Secures USD 1.2 Million Seed Funding

Hakbah platform, a Saudi-based fintech startup that specialises in alternative savings and savings groups, announced the closure of its seed round with a value of USD 1.2 million (SAR 4.5 million). Details of the investors were not disclosed. The startup

Read More

Saudi Fintech Tamara Raises US$ 6 Million in Largest Seed Funding Round in the Kingdom

Tamara, a Saudi-based buy now pay later platform, announced the closure of its seed funding round with an investment of 22.5 million Saudi riyals (US$ 6 million) led by the Impact46 Venture Capital Fund. The startup reported that this is

Read More

Mambu Partners Ta3meed to Provide Digital Islamic Financing Solutions for SMEs

SaaS banking platform Mambu and Ta3meed, an Islamic fintech in trade finance in Saudi Arabia, announced a strategic partnership to deliver Islamic fintech financing solutions for SMEs in the region. With this partnership, Mambu’s agile core banking technology will be

Read More

Virgin Mobile Awarded Banking Agent License Through Saudi Investment Bank

Telecom provider Virgin Mobile was awarded a banking agent license through the Saudi Investment Bank, allowing it to offer electronic international remittance to its customers in KSA. Under the agreement, The Saudi Investment Bank and Virgin Mobile will use their

Read More

Saudi Central Bank Releases Its Open Banking Framework

The Saudi Central Bank (SAMA) has issued its open banking policy which outlines its objective for implementation in Saudi and the benefits that the financial sector stands to gain from it. SAMA plans to go live with its open banking

Read More

Sarwa Gets Greenlight for Fintech Experimental Permit From Saudi Regulator

Sarwa, a Dubai-based investment advisory platform, was granted a fintech experimental permit by the Capital Markets Authority (CMA) of Saudi Arabia and will be expanding its service there. With the new license in hand, Sarwa can offer its wealth management

Read More

Zain’s Fintech Arm First to Receive Micro Loans License From Saudi Central Bank

Zain Group, a telecommunications company in the Middle East and North Africa region, announced that its fintech arm Tamam has been officially licensed by the Saudi Central Bank (SAMA) to provide micro-financing services to consumers across the Kingdom. This makes Tamam

Read More

Aramco Teams up With Google Cloud Services for Push Into Saudi Market

Saudi Aramco Development Company, a subsidiary of Aramco, announced it had teamed up with Google Cloud to offer high-performance, low-latency cloud services to enterprise customers in Saudi Arabia. The Kingdom is being added to the global network of Google Cloud

Read More

Saudi and UAE Central Banks Release Report on Joint Digital Currency Project Aber

The Saudi Central Bank (SAMA) and the Central Bank of the United Arab Emirates (CBUAE) have released the report on their joint central bank digital currency (CBDC) initiative dubbed as Project Aber. The wholesale CBDC used only by the central

Read More